Founded in 1994 as a small technology startup, the bioscience manufacturer has grown to a more than $100 million a year revenue business.
“We’ve graduated to a different level as a business,” said Mike Carrel, AtriCure president and chief executive officer.
A ribbon cutting for the new facility was held Tuesday.
Employees begin moving this week. But not all manufacturing, engineering and office staff will relocate at once. The clean manufacturing room for production of surgical devices used in heart surgery must be certified not only by the U.S. Food and Drug Administration but also by agencies in the various countries where AtriCure does business, Carrel said.
As a result, AtriCure will have dual manufacturing sites in West Chester Twp. and Mason as the work transfers to the new location in phases. That’s expected to last about 18 months, he said.
“For us it was about creating a warm comfortable place that was not ostentatious,” Carrel said.
Altogether, the medical device manufacturer has about 220 employees locally.
Following AtriCure’s most recently completed acquisition of nContact of North Carolina, which expands its portfolio of radiofrequency, cryoablation and other surgical products to include more minimally invasive devices, the employee count nationwide has grown to about 450 people.
By the end of next year, Carrel expects to add another 100 jobs nationwide for total employment of about 550. The new headquarters was built with room to grow. There is space to hold about 400 people in Mason, not quite double the local workforce now, and the land has room for future building additions, he said.
The company’s surgical tools are used for the treatment of atrial fibrillation or to reduce complications of atrial fibrillation, an irregular heartbeat.
After acquiring nContact, AtriCure now expects to see revenue growth in 2016 in the neighborhood of 25 percent from this year. While the costs of absorbing the new business are expected to widen the company’s net loss next year, losses are expected to slow and by 2018, Carrel expects to be profitable.
AtriCure believes the expanded product lineup and increasing market share will turn the company cash flow positive in coming years, he added.
“Locally, almost every one of the hospital systems uses our product,” he said.
Previously, AtriCure has leased office space in West Chester.
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